LONDON (AFX) - Chaco Resources PLC said it is proposing the reverse takeover
of two Paraguayan companies -- Amerisur SA and Bohemia SA -- from Candey SA and
Daniel Sztern in exchange for 27,322,404 new ordinary shares in the company.
It also plans to raise up to 750,000 stg before expenses in a placing of
36,585,365 new ordinary shares.
The company's shares were suspended on Sept 3 and it said it expects this to
be lifted today. It has called an EGM for Nov 15 to approve the acquisition and
placing plans.
Amerisur holds two oil and gas prospecting permits in Paraguay and is the
registered applicant for exploration and exploitation concession contracts over
the same permit areas. Bohemia holds registered applications for an oil and gas
prospecting permit in Paraguay and for an exploration and exploitation
concession contract over the same area.
The exploration areas covered by these three applications comprise a total of
approximately 48,000 square kilometres of the Curypayty and Parana Basins.
Chaco said these basins extend respectively into Bolivia and Brazil, where
commercial oil and gas production has been established for many years from
similar geological sections.

It's only one MM(EVO) moving his offer down a tick.

Some funds going back into Aminex perhaps.

I doubt the funds are going anywhere, miniscule volume today, slight drop will encourage buyers later.

just placed a order to buy 50,000

Nice 200,000 buy to get us moving up again-news isn't too far away!

I thought news wasnt expected untill the end of the month ?

Probably two weeks-which isn't far really after such a long wait already!

fletch61

News can come at anytime. These things usually come as a surprise and I know that some people in some places are not unknown to 'wrongfoot' at times.

Another tree shake?

Lets hope the tree shake is short- lived!

The whole market is down - just staying in line with the market I think

Good recovery so far!

Quiet day today!

this is like watching paint dry ?

watch out if it starts to look wetter at any time, baza!

Nothing much is going to happen until the company releases some news.

Bought some more yesterday; CHP are at the mercy of the speed at which civil servants work. Some shareholders are bound to get bored waiting and sell; I think that they will come to regret that decision in a very short time. Subject to CHP having its application dealt with at the meeting on 23/24 Feb, that is'nt a long time to wait. I guess if it misses that Agenda we would be stuck with waiting for official confirmation for another month as the relevant ministry only seems to meet monthly at this time of year. Even so with the potential impact on the sp what's another month if that ends up being the reality? Where else is the same growth potential over such a short period?

I have to agree Sharesure, the risk/reward ratio with chaco is, I believe not one seen very often in investment.
I am happy to sit here with my holding and wait. Short term fluctuations caused by market participants that have not researched the company do not concern me. Market noise is designed to make brokers and market makers rich, I don't intend in adding to their bank balances.
The serious money is made with careful stock selection and patience. Chaco looked like a real opportunity when I first invested and it looks even better today. It's time to sit tight and let the story unfold.

Thats one lesson that i`m starting to learn ,patience will be rewarded.
In the short time i have been investing i have sold a number of stocks because of my impatience only for them to rocket up in the following days.
Hold tight and hopefully enjoy the ride.

Sharesure/MPH
Thanks for the reassurance-it can get frustrating waiting for news while the SP drifts down. We have come a long way in a year from 2p and have a lot more to go.